France's Canal Plus S.A. said it is launching a bid tobuy out Stream's 90,000 satellite-subscriber base. Under that deal, it would alsosupply Stream's 70,000 cable subscribers with programming from Telepiú, the Italiandirect-to-home service that it partially owns.

At the same time, the Italian press is reporting that NewsCorp. Europe -- headed by former state broadcaster RAI president Letizia Moratti -- hastaken a renewed interest in Stream.

And Italian film producer Vittorio Cecchi Gori, who alsoowns two terrestrial TV networks, is still trying to put together a new consortium to saveStream that could include Warner Bros. Television.

Stream, which has racked up costs of $700 million, has beenon the rocks since RAI decided to invest in Telepiú rather than in Stream. News Corp.Europe also pulled out of a provisional deal to take a stake in Stream following theimposition of antitrust limits on the soccer rights it that wanted.

TI president Franco Bernabè has said that he expects tomake an announcement about Stream's future soon. Analysts believe that a deal willmost likely be made with Canal Plus or with News Corp.

Potential suitors are nervous about Stream's abilityto compete against strongly backed Telepiú, which is far ahead, with 1.4 millionsubscribers.

Canal Plus hopes that European antitrust authorities willnot block its bid for Stream's satellite subscribers. It's also inviting Streamto take a minority stake in Telepiú, through part of the 45 percent that's going toRAI.

But the prospect of a Canal Plus deal with Stream couldcreate a new conundrum for Italy's legislators, who put the antitrust limits onsoccer rights in an attempt to avoid a monopoly situation.

It could also make the conditions to establish a seconddigital-TV platform in Italy even more difficult.

A Stream spokeswoman declined to comment. Olivetti said itwould seek partners to maintain Stream as an independent platform if its bid issuccessful.